The New Liberal Podcast A Better Antitrust ft. Diana Moss
Sep 22, 2023
Diana Moss, VP of Competition and Antitrust Policy, discusses the Biden admin's approach to antitrust. They explore the consumer welfare standard, why regulators focus on tech, and the importance of fair competition in healthcare, food, and telecom. They also discuss ease of exit in different industries and the dynamic nature of social media platforms.
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Inflection Point in Antitrust
- Antitrust enforcement has been lax for about 40 years, leading to high concentration and dominant firms.
- Recently, a movement toward stronger enforcement emerged, changing the ideological landscape around antitrust policy.
Antitrust Ideology Spectrum
- There is a spectrum of antitrust ideologies: from laissez-faire conservatives to progressives enforcing consumer welfare standard, to neo-Brandeisians who see big as inherently bad.
- Neo-Brandeisian approach rejects the consumer welfare standard and favors bright line rules against large firms and mergers.
Consumer Welfare Standard Explained
- The consumer welfare standard protects all trading partners including consumers, workers, and small businesses.
- Harm can show as higher prices, lower quality, less innovation, or reduced wages and bargaining power in supply chains.